Thai Stock Market Roundup April 23, 2020

– SET Index closed at 1,272.53 points, increased 10.72 points or 0.85% with a trading value of 69.2 billion baht. The analyst stated that the rebound in the energy sector supported the market to close higher, while power generation stocks continued their gains as well.

The market had a positive sentiment on easing the partial lockdown after the number of coronavirus cases decelerated to between 10-30 cases per day. The market had already priced in this sentiment, but the sentiment could buoy the market further after the Thai Cabinet finally announced the new measures, which is expected to be by next week.

The analyst set a support level at 1,260-1,240 points and a resistance level at 1,275-1,280 points.

– Local Institutions continued to buoy the Thai stock market along with Individuals for a total net buy of 3.4 billion baht.

– BTS acquired an additional 0.3286% in NOBLE before selling a portion of shares to hold 9.9899%.

– Trump ordered a temporary halt for immigration to secure jobs for “Americans” amid the covid-19 pandemic.

– AOT announced measures to help lowering expenses for concessionaires at all 6 airports which were affected by the outbreak of coronavirus.

– “Nitinai” pointed out that AOT did have potential and liquidity, but to hold a stake in an airline would be inappropriate and also against ICAO’s regulation.

– PLANB acquired a 10-year contract for the rights of PR billboards management in BKK.

– Analyst expected SEAFCO’s earnings to excel in 2Q with tremendous ฿2.5Bn worth of backlog, giving a “BUY” recommendation with a target price at ฿7.90/share.

– Thailand domestic auto sales declined 41.74% due to the impact of covid-19 pandemic.

– DEMCO acquired a construction of transmission line project connecting to a power plant in Khon Kaen worth ฿171mn.

– Stocks in Focus on April 23, 2020: BAM (Krungsri Securities TP at ฿27.00/share) and DELTA (TISCO Securities TP at ฿45.75/share).

 

Top 10 Most Impact Shares on April 23, 2020